Coil Coatings Market size is estimated to garner a significant revenue by the end of 2033, growing at a CAGR of 9% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of coil coatings was over USD 5 Billion. The growth of the market is primarily attributed to the rising penetration of coil coatings in various industries such as construction, automotive and other industries, and rapid growth in manufacturing industry across the globe. For instance, global manufacturing output is expected to be worth around USD43 trillion by the end of 2022.
Coil coatings are a technique for coating and painting metal sheets like steel and aluminium. Polyester, silicone-modified polyester, polyvinylidene fluoride (PVDF), and other materials are used to make these coil coatings. These coats are available in various ranges of colors and finishes. Coil coating system consists of top coat, back coat and primer. This coating system is substituting the traditional process of manufacturing of metal coils. Coil coating system is widely adopted by industries owing to the various factors such as higher productivity, anti-corrosion, low thermal conductivity, and low impact on environment. Furthermore, rising use of polyvinylidene fluoride (PVDF) coatings in areas such as electric vehicles is anticipated to boost the market growth over the forecast period. For instance, PVDF, as one of the most vital polymeric materials with numerous scientific and technological applications, exhibits five crystalline polymorphs with α, β, γ, δ and ε phases obtained through various processing methods. Among them, phase PVDF has exceptional electronic characteristics such as piezo-, pyro-, and ferroelectric properties. These electroactive characteristics have become increasingly important in a variety of applications, including energy storage, spin valve devices, biomedicine, sensors, and smart scaffolds.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2033 |
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CAGR |
9% |
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Base Year Market Size (2022) |
USD 5 Billion |
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Forecast Year Market Size (2033) |
USD XX.X Billion |
End-user (Building & Construction, Industrial & Domestic Appliances, Consumer Durable Goods, Furniture, Automotive, HVAC)
The coil coatings market is segmented and analyzed for demand and supply by end-user into building & construction, industrial & domestic appliances, consumer durable goods, furniture, automotive, HVAC, and others. Out of these, the automotive segment is projected to significantly grow over the forecast period on the back of the rising production of passenger cars, and massive use of coil coatings in automotive industry. For instance, Indian automotive industry is projected to hit the mark of approximately USD 305 billion by the 2026 with an estimated production volume nearly 75 million units.
Our in-depth analysis of the global market includes the following segments:
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By Resin Type |
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By Application |
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By End-User |
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Regionally, the global coil coatings market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in North America is projected to hold the largest market share by the end of 2033 backed by the surging use of coil coatings in manufacturing of furniture, and the significant growth of construction sector in the region. For instance, construction operations in North America are expected to grow around 2.6% in 2022, reaching nearly USD 1.96 trillion, higher from USD 1.90 trillion in 2021.
Author Credits: Smruti Ranjan, Rajrani Baghel
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